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20120928
20121006
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CNBC
Sep 28, 2012 3:00pm EDT
tim cook about the new map app disaster. would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually ratcheted up the best quarter we've seen in years. today we had a huge explosive short move at the end of the day, maria, that really, really punctuated the problems we're seeing
CNBC
Oct 5, 2012 4:00pm EDT
on genius. it's been a year since the death of steve jobs. has apple gotten past the tragic loss, or is it steel relying on the ideas of its late ceo? >>> and, numbers game? former labor secretary elaine chow reacts to critics claiming something is out of whack with the drop in today's unemployment rate. >>> also, no room for a view. why did ikea exclude women from its ads in saudi arabia? brilliant marketing plan or a giant misstep? we'll assemble the facts coming up on the "closing bell." at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk management to diversification - you'll have the tools to get
CNBC
Oct 2, 2012 4:00pm EDT
's future without his close friend steve jobs. and interview you won't want to miss. joining us coming up. meanwhile, let's look that the reversal on wall street. yes, we closed lower, but it was well off the lows of the afternoon. the dow jones industrial average down 0.25% this afternoon. a come back in apple, a handful of technology names. nasdaq finished positive, reversing its earlier losses with a gain on the session of 6 1/2. the s&p 500 also higher on the session. there's a look at treasuries here with yields fractionally higher on the day. as you can see there, yields moving lower and the price moving higher, pardon me. let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was ap
CNBC
Oct 1, 2012 12:00pm EDT
play back from pete and steve here with me and stephanie link and steve grasso and i will start with you. given what happened last week in the market, did you guys come in today a little skeptical about this move in the market and then we got the ism report and that changed your way of thinking? >> i think you always come in skeptical because you wonder how much is window dressing and how much is the market itself creating and when you look at it, i think there are great opportunities going toward the fourth quarter. i am looking at certain areas i want to remine offensive and remain opportunistic and i am looking at certain names i know you like as well and i still think apple is under valued and goes higher. that's one of the names i would point out. if our on the defensive side i am looking at the big pharma names where you are looking at the valuation and the yield as well as the big money center banks and i would also stick with something like a kkr, black stone, and a lot of students depending how aggressive or offensive or defensive you want to be. >> the market came back
CNBC
Oct 5, 2012 9:00am EDT
of the death of steve jobs. tim cook paying tribute to jobs on the company website saying the greatest gift jobs gave to the world is apple. >> added last month, but the big surprise is that unemployment rate falling to 7.8, dropping below 8% for the first time in three years. you six, unchanged? i think at 14.7, but the timing so critical ahead of the election has people not trusting the data. >> i trust in the data. i've trusted in the data for years. i don't think it can be massaged. they get it wrong, but they get it wrong for both teams. look, the report's good. hours worked up, pay up, july and august revisions up. you want to look through it because you're political? i can, i'm not political. trying to make money here. >> i'll go with you. >> thank you. >> know we hear a lot about conspiracy theories. i suppose that's something to be expected certainly if people are partisan one way or the other, but we have to go with the data. not bad. not great. let's not forget we had 1.3% in the second quarter. it's not as though we're steaming along here, but the revisions were pretty strong. >
CNBC
Sep 28, 2012 4:00am EDT
steve sedgwick following the story in thmadrid, but firs out to stefane in paris. it sounds like there will be a contrast with the spanish budget. it's tax hikes that seem to be the focus. >> in france it will be focus on tax hikes. that's the decision about to be announced by the french government. basically 20 billion euros in additional taxes in the budget for the next year. and only 10 billion euros in spending cuts. that's the plan to reach the deficit target. that's the best case scenario because the budget is based on a growth assumption of 0.8% which seems to be far too optimistic. plenty of private economists believe the french economy won't grow more than 0.3% next year. in that case, the government will need to find an additional 5 feweuro of spending cuts on t of what will be announced today. the budget will include one very symbolic measure, new tax rate of 75% for people earning more than 1 million euros per year. it will be implemented only on around 2,000 people and it will raise only 200 million euros. so that's a symbolic measure that the prime minister has been
CNBC
Oct 1, 2012 1:00pm EDT
a moment and then he'll take some questions. meantime our senior economics reporter steve leisman has been monitoring those remarks. you saw, steve, what struck rick as the standout point. what strikes you? >> well, not that. what rick put up there on the full screen was pretty much word for word what the fed said in the statement last week or when the med meeting was held. that's been known by the market. what bernanke's doing is something i guess he's been inclined to do individually, but also has to do professional as chairman because of the unique fed policy that's out there right now. didn't have to -- used to be that a fed chairman felt compelled to go out there and really sell his policies to the public. but because this fed is so much in the political crosshairs, because things the fed has done have been so unique, so unconventional, the fed chairman has to go out there and really talk in simple terms to the common man about the policies and try to explain it. there's been a lot of criticism about savers, about the effects of inflation, about the fed monetizing the debt, about the
CNBC
Oct 2, 2012 7:00pm EDT
for all tax deductions across the board. sure, steve. the upper end people would have a problem across the board. >> i like this idea a lot. i just heard about it an hour ago. but i have always believed as a supply sider that tax deductions and credits are termites in the tax code. if you can cap them, it is a sane thing to do and something that howard dean should like because it is progressive. >> steve, what i want to know, if you are in favor of limiting these kinds of deductions, then how about getting ready of the oil depletion allowance for oil companies? >> i think that is something that every manufacturer gets. that is anexpense. when you are talking about writing off a 2 million home i'm not in favor of that. >> do you realize this is the first time that we have ever agreed on anything? >> you know what, this is the right approach to go, larry. i think that mitt romney has opened up an avenue to pick up in the polls here. this plan is evolving into a flat tax. this one piece has legs to it. it has been out an hour. we can't really say. but what about the enormous cu s s in tax
CNBC
Oct 4, 2012 11:00pm EDT
the ceo and they replaced him with steve bennett, a board member who has taken over as permanent ceo. he was the ceo in another company. the company grew from $1 billion in sales to $2.7 billion in sales. he also knows how to increase margins. in the first five years as intuit's ceo, the margins expanded. bennett is the ceo that symantec needs. he is saying all the right things. in the first day on the job, he said he conducted 90 to 120 day review of the business. he wants to come in there and figure out what needs to be changed, throw out what doesn't work. bennett's words were music to the market's ears. in response, they went up in a straight line. shot from $13 to $17 within two weeks. $19 after six weeks. i've been waiting. even better, within a week of taking the ceo job, bennett disclosed he made a big insider purchase. he bought 89,300 shares. talk about a morale booster. bennett wouldn't be spending $1.4 billion worth of stock if he didn't think the company was going to turn around. he would spend $100,000 but not $1.4. now ever since the old ceo got the ax, we've been waiting
CNBC
Oct 3, 2012 12:00pm EDT
, steve jobs famously panned the smaller tablets. but people seem to like them. they're serving a purpose. so apple wants to play in that game and they should. that's a smart move. >> but why should they? they already lead in the tablet department with the ipad. why dabble in something that seems to be a fairly sizable risk? >> my guess is they won't dabble. they'll go into it. and the reason it's important, mobile, all of the devices from the iphone to the tablets, are becoming platforms and folks are building apps on top of them, you standardize your household and your work around a particular operating system. in this case i chos. and this will be another one of those. if apple was missing a key device that a lot of people wanted, especially at a price point a lot of people wanted, that could hurt them over the long haul in term hes of market share. so definitely smart for them to play there. the issue is what does it do to their margins. with the mini, you may see this is a much lower margin product than the iphone. >> are they willing to sacrifice those margins or will they come out
CNBC
Oct 3, 2012 4:00pm EDT
get a preview with our market panel right now. keith springer with me along with steve wood and mandy drury. thank you for joining us. let me get your take, steve. on the jobs report on friday, what should we expect? >> i think it's going to come in lighter than the adp. the adp has been a poor indicator of the jobs number. i think there's a reason the fed gave us qe-3, because they saw the softness in the labor market. i think it could come in a little on the weak side. more importantly, the official jobs number is the revisions backwards. they've been going back through previous months and knocking down those numbers. i think i wouldn't be surprised if it came in a little soft. >> kate, do you agree with that? if so, is this priced into the market? >> yes, absolutely priced in, maria. great question. what they're going to expect is for it to be terrible. if it isn't terrible, we'll see a rally. what matters most to this market is earnings. we're in pre-earnings disappointment season where we're going to float a little bit until earnings come out. we've seen a friend where earnings h
CNBC
Oct 5, 2012 1:00pm EDT
of that, our senior economics reporter steve leisman. steve? >> sue, thanks very much. sue, this number is a product of simple math. but whether it's telling us about the real strength of the job market is something investors and the fed are going to have to think long and hard about. take a look at how we got here. first a little bit of the math. the unemployment rate is calculated by essentially taking the number of unemployment and simply dividing it by the labor force. plug in the numbers. 7.8% unemployment rate gives us -- calculates from 12.1 million unemployed divided by the 155.1 million labor force. you can do that at home, if you like. and now here's what happened this month. okay? the number of unemployed dropped by nearly half a million. down by 456,000. the number of employed in this household survey up by 873,000. but wait, because the one thing we're watching here is the number of people who were employed but were part-time but they wanted full time work. we call it for economic reasons. up by 582,000. that's the third september surge in a row. some people suggest there i
CNBC
Oct 5, 2012 7:00pm EDT
is will the headline 7.8% do anything to slow down mitt romney's rise? let's talk. igor volski, and steve moore. good evening, gentlemen. steve moore, it is possible that the economy is doing a little better or did better in september than people think. i don't want to defend the number but the bureau of labor statistics say the economy is not as bad as some people think. >> it was a decent number, no question about it. barack obama got his four-year wish list. he got that 7 in front of the unemployment rate number, which he's wanted for a long time. i'll say what i say in our editorial tomorrow. the labor market still stinks, larry. this is a lousy labor market. we still have 14.6% people who are unemployed when you include the people who can't find a full-time job, when you include all those people who dropped out of the labor force, that's 23 million people. i wanted to emphasize one thing with your conversation with jack welch. jack was right about one thing. there are only 10,000 added in terms of government jobs in the new report but all of the additional -- the revised upward jobs numbers for
CNBC
Oct 2, 2012 6:00pm EDT
that is wrong. steve bomber before bill games was viewed as a suit. steve jobs was viewed as bono. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaac son's by of fee of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. go google has the momentum you could have on your cell phone and that is why the stock is going higher. the gee fault go to tech name is google. it is the financial equivalent over who is cool. google is and microsoft isn't. which is why google up here is the one to own. stay with cramer. in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male an
CNBC
Oct 2, 2012 11:00pm EDT
the value of cool. here is why that is wrong. steve ballmer before bill gates was viewed as a suit. steve jobs was viewed as bono, bond and beethoven. you don't want to spend anytime with the microsoft guys and i know steve. i sat next to him at a reunion. but when you read walter isaacson's biography of jobs. he was a man, and everyone wanted to hang with him because he was the coolest man in the room. meanwhile, google is the logical heir to apple. google has all the monetizing momentum you could have on your cell phone and that is why the stock is going higher. the default go to tech name is google. it is the financial equivalent of a judgment over who is cool. google is and microsoft isn't. the gulf is growing, which is why google up here is the one to own. stay with cramer. >> reports after the bell. i tell you i do not comment or recommend stocks on a takeover basis. it is going to send sprint further down. jim, are you abandoning sprint?
CNBC
Oct 1, 2012 6:00am EDT
couldn't. i looked at jim furyk and watching how many times he backed -- steve stricker towards the end, no, i didn't think about it. and even tiger. probably would have helped if he hit that little four footer so that it was 14-14 at least we wouldn't feel bad. >> yeah, that was quite gray issue gracious. that match probably deserved to be tied. >> and that putt at the end was weak. and he still had the smile on his face, the weird smile. but that was sad. anyway, anything else going on? there really isn't, is there? >> i will give and you quick recap because you were talking about the pmis a little bit earlier out of europe. markets are up. green on the board as you can see. advancers outpacing decliners by more than 8:2. dax up 12. cac up five. despite the fact those pmis came in weak, they were actually a slight tick up. even german ones. the french numbers were slightly weaker, too. spain not up quite so much. we heard from bank company popular, desperately trying it avoid having to take official aid.co popular, desperately trying it avoid having to take official aid. stock down 12
CNBC
Oct 2, 2012 9:00am EDT
, if steve jobs were alive, would he fire tim cook? we'll explore that idea in our boss segment. and we'll go from ford to gm to chrysler with one of the best septembers in years. >>> and we'll take one more look at futures on this tuesday morning after that rally that did happen on the monday that got chopped in the street. '"squawk on the street" will be back in a minute. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 depos
CNBC
Oct 2, 2012 1:00pm EDT
but next on "power lunch," giving an exclusive to our steve liesman. lael brainard, u.s. undersecretary for international affairs, just ahead. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> too europe now, where there is fresh concern about spain and whether and when it might ask for bailout and if so how big it could be. our next guest is part of an exclusive club and knows probably more about the european crisis and how it's impacting our economy than just about anybody. so how exclusive is her access? look at this picture from the g-20 summit two years ago, lael brainard is the key u.s. representati
CNBC
Sep 28, 2012 9:00am EDT
. this is a true gaffe. those who have read the fabulous book would know steve jobs i believe would never put an inferior product in people's hands even if it meant an apple product that he could lay claim to. and this was a major departure. we saw this with microsoft. jobs would make deals with microsoft. he didn't want to make a deal with microsoft but obviously if it was a better product he did it. >> yeah. he did. and people have raised the question as to whether steve jobs was still alive and running the company whether maps would have been released in this state or he simply would have said you stink it stinks you're fired make it better. >> you stink and i don't like you. >> also in the book it was very clear steve jobs had, not had it in for but really watching android, wanting to block that out as a competitor. this was one way of keeping google a competitor off the apple ecosystem and a lot of people on the google side would say dan niles, we talked to him earlier this week, said know what? being locked out of apple ecosystem is not good for google so maybe it was driven by that. a
CNBC
Sep 28, 2012 6:00am EDT
come one day after spain announced its 2013 budget and steve sedgwick will be joining us live with more on all of that in just a few minutes. france is also announcing its budget plans today. president hollande said that the budget will be the toughest in 30 years. government needs to find about $39 billion of spending cuts or deshl resources to meet its 2013 deficit target. and fitch is lowering its 2012 growth forecasts both for china and india. citing deteriorating outlook of the global economy. so not a great way to start the morning. >> no, not great, but i like seeing what we did -- i saw ge and i was going to tell whoever thinks that we need to kiss up to them still -- >> minority partner. >> they are. but comcast would have been a better -- or we could have done both. and did i see something that it had first quarter, second quarter, third quarter? what do i need in the fourth quarter to get to the 30%? do we hahave that anymore? is that gone? no, they don't have it. >> i saw the dow, s&p and nasdaq. >> what did it add up to? adds up to like 15 or so. >> i just saw for this quar
CNBC
Oct 4, 2012 7:00pm EDT
, where does he run after last night's sweeping win? let's talk. here now is democratic strategist steve mcmahon. and then cnbc contributor geoff jennifer rubin, author of the "washington post" right turn blog. jennifer was it a game changer for the whole presidential race? >> it potentially can be. what has to happen now romney has to build on that day after day. the difficulty they've had, this was true in the primary as well, they have a few good days and then they get off message or they fumble the ball a little bit. if they can string together one good day after another they only have to do it 33 more times they can get it done. >> growth, jennifer. growth, tax reform, lower the base, broaden the base, jobs. he had the kudlow script last night. >> he did. what is so telling is that the president is so thrown off balance he's insisting that romney has changed his plan because he wasn't giving the obama talking points. >> well now hold on. >> the democrats have mischaracterized romney's plans up the ying yang. so when he comes forward and tells what his plans are it's a shock. they th
CNBC
Oct 5, 2012 6:00am EDT
:30 eastern the all important jobs number is out. steve liesman, to get on tv he'll do anything, he stands up whenever we ask him to. he gives us a preview in a minute. you got your mikes on? >> i have my mikes on. >> and after the wall market reaction. >> you won't stand up. >> i will not. the economy and your money, ed lazear and austan goolsbee. i'm glad we got ed to match up with austan. in the past we just have austan. we'll get to becky who gets to sit, with the morning headlines. comfortable over there in. >> it's very comfy. your my partner and in solidarity i'll stand for you, joe, ready, just for you. good morning, everyone, we've been watching the futures and they are slightly higher ahead of the big number we've been waiting for. dow futures up by 21 points, s&p futures up by two points. everything is waiting for 8:30 when we get that jobs report. let answer get to some of your morning headlines. morgan stanley is planning to cut more jobs and slash bonuses. the ceo james gorman tells "the financial times" those are necessary to improve value. he is sympathetic the industry is ove
CNBC
Oct 5, 2012 12:00pm EDT
should you just believe it and buy? senior economics reporter steve liesman joins us. do we believe it? >> should you trade this number? here's a quick bottom line. the skbloorkjobs market is like as strong. the big drop in unemployment. not as weak as the 114,000 jobs shown in the payroll. let me walk you through why you come to this conclusion. the payroll surveyed showed 114,000 jobs created. the work week increased a little bit, average hourly earnings were up and year-to-date, remember that figure of 1.31 million. write that down we'll come back to it. household survey, 873,000 jobs, but of that 582,000 were part time for economic reasons. that's not a flattering way to bet to the problem. it's like going in one of those, i don't know, an '84 pinto. that's not a nice way to get to the problem. there's a payroll adjusted concept. what we do is because they count jobs in different ways there's a thing called a payroll adjusted in this. what's the number? 1.34 million. what's number i asked you to write down? 1.31 million. year-to-date not a whole lot of difference. bottom line is i
CNBC
Oct 5, 2012 3:00pm EDT
economics reporter steve liesman is here to explain. the mystery, what is it? >> it's really the product, as you know. we have two separate surveys. the household survey, that's where we get the unemployment rate. it's the result of a nationwide survey of around 60,000 people. sounds big, right? well, it's historically very volatile. the payroll survey, that's where we get the number of jobs, the 114,000. that comes from a survey of around 140,000 employers. they submit actual data. it's favored by economists because it's steadier. but guess what? it's also subject to revisions. according to this report, we had 114,000 jobs in september. the household survey showed with 7.8% unemployment, it came from being 12.1 million unemployed divided by 151.1 million people in the labor force. they count themselves as available for work. what happened? what happened is the number of unemployed in this survey fell by 456,000. the number of people who had jobs went up by 873,000. that came partly, though, from an increase of people who are working part time for economic reasons, and there may be a sea
CNBC
Oct 5, 2012 4:00am EDT
. now, it's one year since steve jobs passed away at the age of 56 after a long battle with cancer. carl quintanilla that been looking back at his life. >> it may go unmatched for generations. >> a truly magical and revolutionary product. >> steve jobs introduced one grainy innovative product after another. consider 244 million iphones sold, 131 million desktops and laptop, 84 billion ipads, 350 million ipods. and while at apple, jobs had his hand in every part of every creation. >> steve jobs was not really an engineer, not really a programmer. he was very hands on from the design, the execution, the menus, the fonts, the colors. >> i didn't want to tell you i had steve martin on my ipod. >> jobs created a whole new way to appreciate music, using software he designed on devices he designed at a price he set. >> he wanted to sell songs, not albums. selling songs in many respects was -- >> jobs the inventor, the man who changed mobile communication, and digital entertainment, may just have been the greatest retailer of all time. >> apple stores are the single most profitable store on a sq
CNBC
Oct 3, 2012 1:00pm EDT
raised in housing. steve leisman and diana olick are all over the data points. steve, the latest jobs data, is it changing in any way the expectations for this friday's employment report? >> not a lot. economists would like to go from the adp data to higher estimates but it's not been that great over the past couple months. there's a lot of of caution out there among wall street economists. data this morning -- up 162,000 from the private sector. that's a bit better than expectations which were in the 150,000, 155,000 range. in august it was revised down to 189,000. the non-farm payroll estimates. we won't know until friday if that is higher. here's the misses we've had over the past three months. it's been 63,000 heavy compared to the bls private sector report. you can see over the course of the year it's been a little bit on the high side making economists wary about upping their estimates. what has been a little bit on the up side is jobless claims. other data that helped buoy optimism, slightly higher than claims in last month's survey week. the ism jobs manufacturing is at a thre
CNBC
Oct 3, 2012 4:00am EDT
the u.s. economy is recovering, though. joining us now is steve murphy, a democratic strategist and managing partner at mvar, and gretchen hamill is a republican strategist and executive director at public notice. nice to have you both with us. steve, perhaps you can kick it off for us. what do you think tonight holds? >> you know, here's what barack obama has to do. the debate right now in the campaign is very heavily over economic policy going forward. that's where barack obama wants to focus. he will accuse mitt romney of seeking $4 trillion, $5 trillion in additional tax cuts for the wealthy while raising taxes on the middle class. there will be a lot of talk about that because mitt romney disputes that he would be cutting taxes -- excuse me, raising taxes on the middle class. at the same time, he's challenged. obama's challenge is not to be too cocky. with good reason, he gets cocky sometimes. he's got to be careful that he doesn't is a moment like he had in the new hampshire debate in 2008 where he said hillary is likable enough. he has to avoid that kind of characteristic
CNBC
Sep 27, 2012 11:00pm EDT
to gamble. i want to invest. let's go to steve in florida. >> caller: boo-yah, jim. >> boo-yah, steve. >> caller: i just wanted to say thank you for everything you do for us people. >> i'm doing my best, thank you for that, it's great that you said it. >> caller: i have made enough money, jim, i moved from pennsylvania to florida this month. >> good for you, sunshine. i was talking about doing that just the other day, saying you know what? when this gig is over, which may not be for another 40 years, i would move to florida. >> caller: it's beautiful, but my big question is here is wynn resorts. we all know wynn is at least a $125 stock, but with wynn slipping here again, even though they were up a little bit today, with the china stimulus, that's going to help the stock come back up, isn't it? >> i agree with you, i got to tell you wynn surprises me that it's down this much. vegas hasn't been that hot. i'm bullish on wynn. that doesn't mean it can't go down ten, but i think it does go up 25%. >> bill in illinois. >> caller: my question is this, gm is already doing well in china, with
CNBC
Sep 28, 2012 12:00pm EDT
as we move through the session. let's bring in steve leaseman. not a lot of big surprises here. >> the market reaction might be a surprise. how many times have you and i been here with europeans disclosing what they say is the final final accounting and nobody believes them. so it's very early to say. but the question has to be asked on this discussion, in my opinion. are we at a point where the market might finally begin to disclosures of a european bank supervisor that now we're accounting for it? there's two parts to the equation. we have a means for making it up. fascinating article. europe needs to have a bank bailout like we had in the u.s. get the banking system going again, you need to plug it with public money. so the question becomes, and i know this is early, but it's what you have to figure out. does the market believe this number, this process? which by the way, was done by an independent consultant and it's something they can stand behind that puts the totality of the problem outdomain. >> acknowledging you have a problem is the first step. the question is who pay
CNBC
Sep 29, 2012 4:00am EDT
to the steve miller band. yes, go on, take the money and run before those shares hit the market. >>> time for tweets. we had quite a reaction to our day of atonement show on wednesday which really meant a lot to me many true cra-americans know i do the show for you and i work hard every day to try to do the right thing to help you and your family save. when i get these messages i got to redouble my efforts to ignore the haters and stay true to our mission here. i'm going to share a few of them with you now to kick this off. the first is from john earl bernett who says "to all the @jimcramer naysayers, how many of you admit when you're wrong? kudos to you, jim, great show. from @kay shawn 17 who writes "is there anyone else who would even think of spending one hour admitting their mistakes over the past year besides @jimcramer on "mad money" on cnbc? >> continue to believe what you do for investors is far more valuable than what most people give you credit for. thank you for refusing to be mediocre. last one "do you know what separates you from the rest? you have humility to admit when you
CNBC
Oct 1, 2012 11:00pm EDT
it be symantec or mcafee, that's a place i want to be. don't forget life lock this week. steve in california, steve? >> caller: sunny california beach boo-ya to you from california. >> well, you've got the edge on me. >> caller: right on highway 1. >> all right. >> caller: news corp, they're going to be splitting up maybe. hear that might be a publishing side and entertainment side -- >> 30 bucks, 30 bucks. that's where stephanie link and i think it is headed. she's co-portfolio manager with me. we think there's a $30 number that comes when you break that into the pieces. it's a win. do you yahoo!? i think ceo marisa mayer is what yahoo! needed. i think she has what it takes to turn this company around. particularly when it comes to unlocking value. and the sum of its parts. congratulations, marisa. stay with cramer. >>> coming up, industrial strength, prologis is at the center of the global supply chain. operating a portfolio of distribution centers, warehouses and commercial real estate around the world. tonight, cramer is talking to the ceo to get a real read on the economy. >>> it is tim
CNBC
Oct 5, 2012 6:00pm EDT
or that business. zynga too early to get into zynga. >> let's go to steve. steve-orino, you're up. >> caller: nice to meet you. >> how are you? >> caller: first off, i'd like to thank you for encouraging investors to manage their own money. if i can do it, anybody can do it. my question, to the t-mobile, psc deal. i would like to know, how will this affect the telecon industry? >> this is my theory on it. thank you about the kind words. i think t-mobile will merge with psc and bring it public and that will get it off telecon sheets. that's important. they don't want anything to do with t-mobile and that this is a way out. i don't think it will affect us so much. >>> ike in new york. >> caller: hey, jim. how are you? >> real good. how about you? >> caller: good, good, good. a big apple booyah to you. my question is about the comments shorting because of the taco bell competition. i find it difficult to compare the two. should i feel good about chipotle, go with yum? >> i like yum in the low 60s. i don't think it's taco bell that's causing problems at chipot chipotle. it's a little expensive. busine
CNBC
Oct 3, 2012 9:00am EDT
're going to stop thinking about firing tim cook. i love that. steve jobs would fire tim cook. he would fire everyone involved in maps and he would berate them in front of everyone. he was not a nice man and yet everyone loved him anyway. >> lifelock posted a little below the range. maybe a little disappointment there. i might be able to see that. certainly one that we're going to watch, a big week for ipos, of course, one of the busiest. berry plastics tomorrow and pretty sizeable deals. >> and one of the things that we need to see is some pulse down here. there was a lot of social media, people got gaffed. any time you see new companies, you think, maybe i should stop shorting goldman sachs and maybe there is a sign of capital formation. p excellent show stopper yesterday. and mark cuban was so great and the destruction of the capital markets. cuban, cooperman, these guys are not idle thinkers. they are the best we have. and high frequency trading has destroyed a lot. >> and suggesting you tax intraday trades 50%, trades less than a minute, 100%, that would cut down on it in a hurry. >> no
CNBC
Oct 4, 2012 6:00am EDT
. >> oh, yeah, find a date. >> escorts. >> anyway, when we come back, steve liesman will join our political conversation. we have an economic fact check of last night's debate. >> who wants to be a millionaire! driver, multi-car, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometh and we thy saveth! what are you doing? we doth offer so many discounts, we have some to spare. oh, you have any of those homeowners discounts? here we go. thank you. he took my shield, my lady. these are troubling times in the kingdom. more discounts than we knoweth what to do with. now that's progressive. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> the high stakes economic war of words. >> for me, this is about jobs. this is
CNBC
Sep 28, 2012 1:00pm EDT
schmidt. get over this whole thing. i earlier said steve jobs would never apologize. in fact steve jobs apologized in the past. five years ago he apologized when he cut the price of the iphone back then $200 after it had only been out a few months. he apologized to the original buyers. apologies from the ceo at apple are not completely unheard of. >> what do you think, rob snert. >> my favorite tweet that's been out there. if you've ordered an iphone 5 shipment are being delayed because apple is forcing everyone to use apple maps to deliver them. that's what's going to be happening here. they'll get it together in the though.n it's going to take google's got a big head start. >> i postponed transferring over to the new operating system. >> me, too. >> i haven't bought mine yet. i'm in the clear. i'll get back to hq all by my little self. >>> 35 years after his disappearnce, a lot of folks still want to know apparently where jimmy hoffa's body might be buried. giants stadium, perhaps? a florida swamp? or as new reports indicate under a driveway in suburban detroit. now bob i'm going to s
CNBC
Oct 4, 2012 3:00pm EDT
is on board. steve, how about some of the hits, runs, and errors from those feds minutes? it didn't move the markets to any great degree today. >> i think we knew where people stood. the voting members are more or less in favor of the policy that came out, which was the one, the open-ended quantitative easing. the non-voters, there are more objections there. that's where more of the hawks are in the current rotation of the fomc. i don't think we learned anything new about there being a bigger or wider split when it comes to the new policy out there. they do have work to do, guys. they're working on the calendar date guidance. they're working on a whole bunch of other stuff that's out there. for example, the fomc individual interest rate forecast, and i think the way maria led into this, that we need new information, that's absolutely true because we don't know what happens in january. it's unclear how to calibrate the incoming economic data with what the fed is going to do in january. >> yeah, so we still have a fair amount of uncertainties on the table. yet, a little more clarity in wha
CNBC
Oct 3, 2012 6:00am EDT
on this one. you think of people like steve balmer, jim cramer. >> but there is science behind this. >> more testosterone. >> it's the testosterone that kills the hair. you're more aggressive. you're an aggressor. >> how do you keep your hair? >> if zucker was still -- i would be nicer, he has a full head of hair so i'm not afraid right now. if some guy who is unfortunately is bald happens to end up in a powerful position, it's not because of being bald, it's in spite of being bald. toupees look like crap. you can't buy a decent toupee. >> rarely bald anymore. maybe works in business, not in politics, i don't know. kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global
CNBC
Oct 2, 2012 4:00am EDT
today. meanwhile steve hester has called for banks to readjust back to a more customer focused approach. speaking at the london school of economic, he said lenders need to restore good customer service to regain trust of the public and rbs is the poster child for what went wrong in banking. and eric snyderman is suing jpmorgan. the suit partly the result of a federal mortgage task force formed in january. investors lost around $22 billion and more than 100 securities. jpmorgan says the suit involves actions taken at the behest of the u.s. government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that'
CNBC
Oct 1, 2012 9:00am EDT
largely on valuation. microsoft's 15% year-to-date gains. and steve grasrg and citigroup was downgraded at sterne agee. a little stall because of concerns about windows 8 and whether or not it's going to be robust. q3 could be a make-or-break quarter for them. "the journal" points out, there's no place to try out the new tablet. are you going to buy a tablet just on blind faith without trying it out? >> tiff beta. it's quite exciting. but excitement doesn't necessarily equal sales. there was a downgrade of nokia saying the windows 8 operating system, not good for phones. intel seems to have lost its way with that 4% yield being the only reason to be in it. the desktop -- i feel very triceratops here with this. >> how about the story in "the times" over the weekend about meg whitman? >> they still make a lot of them. but the question is, is it really a business you want to be in? >> do you remember scm? >> yes. >> smith corona mar chant. they were making electric typewriters like they were going out of style. >> that "times" story, not a lot that we didn't already know in terms of what h
CNBC
Oct 1, 2012 7:00pm EDT
? big tax -- >> coming up next, my pal steve meister. are you expecting just as an ordinary person who writes the occasional column and follows the politics, do you think we're going have a big smacking huge tax hike after the election, do you think the so-called tax cliff we're all going to fall into it? >> we're at this fiscal cliff, obama is going to engage in this class warfare his entire four years and he has sees it as taking from the rich to give to the poor. although it's obviously just transgenerational stuff he's engaged in. romney has got to come out with significant, permanent tax cuts. that's the supply side. >> i remember the '80s, i remember the 1980s. >> you will see lots of them coming up, david goodfriend, robert costa and having them rent apartments in new york city. that's it for this evening's show. i'm kudlow, thanks for watching. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know mo
CNBC
Oct 2, 2012 9:00pm EDT
. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understand what happened to the price of oil, you first have to understand the way it's traded. for years, it's been bought and sold on something called the commodities futures market. here at the new york mercantile exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future. it was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials and airlines could manage their fuel costs. but in late 2007, that market started to behave erratically. and when oil doubled to more than $147 a barrel, no one was more suspicious than dan gilligan. >> we have to make sure that the futures market is an honest market. >> as the president of the petroleum marketers association, he represents more t
CNBC
Oct 3, 2012 6:00pm EDT
that microsoft propagated opting for a closed system to be controlled by one man, steve jobs. one look at the market capitalizations shows the wisdom of jobs' position. more important for this matter is the fact that microsoft's customers ended up in a business that reminds me of the uncoded free sheet paper business, the commodity where there can be no value added. yes, they, the customers, the dells and hewlett-packards, are the true losers of the bill gates movement. hewlett-packard isn't just personal computing but it's printing and consulting. i loathe the printers. as far as consulting goes, take a look how well their competitors are doing. the companies i work for, i pray they see the light and go apple. hewlett-packard is a huge company with quite a hold on the tech budgets of big corporations. but the company will eventually will ripped out of the enterprise. you can't have something that young people hate prevail forever. funny thing, younger people, they get older. and they take the reins from the relics who jammed dell and hewlett-packards down our throats. so good luck to
CNBC
Oct 4, 2012 9:00am EDT
says listen, you know what? forget apple. steve jobs, he's gone, it doesn't matter, stick with hewlett! >> listen, we ship two pcs every second. this is an enormous business. we're seeing growth in a lot of areas. we have an entirely new design lineup. we have put real emphasis on design. and this is something hp does quite well. we have terrific product engineering. now married with a design organization. i think we've got a really good shot here, and we've gotten great response to these devices. you know, listen. we are one competitive company. we now have a sharp competitive focus. we know what we have to do to compete. and we're going to do it. i wouldn't bet against us. i wouldn't bet against the technology that this company has in the pipeline and our commitment to delivering great products and to meeting customer needs. one thing i'll tell you about hp. through all the change at the top, through all the craziness, our people have delivered for customers. we will do anything for customers. and i think that's a great strength of the company that we're going to build on. >> meg, yo
CNBC
Oct 1, 2012 3:00pm EDT
attributed part of the rally to what chicago fed bank president charlie evans told our steve liesman this morning on cnbc. listen. >> in my opinion, we'd continue with the asset purchases until we see payroll employment more like 200,000, 250,000. >> you're saying continue at 85 billion into all of 2013? that would be your recommendation? >> this is my recommendation. >> so is the fed's bond buying spree fueling the markets and should we be worried it won't last? that's what we're talking about right now. eric is with us of gerring wealth management. he says yes. gary clark says be defensive knew, expect a rally after the election. thanks for joining us. harry, why do you expect a rally after the election? we'll get nr clarity then? >> that's one thing. the uncertainty is the death of the market. i think we're going to get a correction first. the market is tired. the tired gain of last month was two days. ecb day and qe forever day. that's not good for the markets. the market needs a correction. think now anywhere from 5% to 8% will do it. a lot of money out there waiting to get in t
CNBC
Oct 2, 2012 3:00pm EDT
. >> steve and rick, get along, would you? okay. where were we, maria? how's san francisco? >> everything's good. it's gorgeous here. i didn't realize how hot it would be. we're following the oracle story. they made some big announcements here about the cloud. we have a market that is about to really focus on fundamentals, i think. >> we were down about 90 points at the low. the dow is down 66 now with about 55 minutes to go today. >> don't go anywhere. we've got much more ahead on this huge edition of the "closing bell." >>> coming up, shooting from the lip. outspoken and controversial former yahoo! chief carol barts weighs in on the future of the tech giant and whether it's heading in the right direction. >>> plus, the oracle of oracle. maria sits down for an exclusive interview with larry ellison. what game changing products does the firm have in the pipeline, and what will the free-spirited ceo buy next? find out straight ahead. >>> and class action. in another exclusive, the man in charge of settling claims against convicted sexual offender jerry sandusky talks to maria about how pen
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